Ray Dalio, founder of Bridgewater Associates, explains the key mental model shift that emerged from almost going bankrupt in 1982.
0:00 / 0:13exact quote · 13.9s
720p mp4 · rendered on demand · StarZero watermark
“I went from thinking, you know, I'm right, to asking myself, how do I know I'm right? In other words, how do I triangulate? It gave me the humility I needed To balance with my audacity.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Ray Dalio
PredictionNot checkable as stated
Computers will surpass humans at quality thinking long before intuition
“It'll be a long time before those intuitions and those imaginations are created by computers. Ok, but it won't be a long time before computers produce better quality thinking.”
Ray DalioOct 11, 2017▶ 1:13:50#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
Insight
Dalio: Neither autocratic nor democratic decision-making works well in organizations
“The problem that most people have at that point is that either there is an autocratic decision maker or a democratic decision maker. Neither of those work well. The autocratic decision maker is just the guy who's the boss who says, okay, well, now I'm going to…”
Ray DalioOct 11, 2017▶ 22:34#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
PredictionNot checkable as stated
Dalio: Coders riding algorithms will displace workers and cause economic bifurcation
“There are going to be people who are riding the algorithms that will replace the people who are doing jobs. And so there's going to be a bifurcation, and I think that learning how to code is like learning how to read and write for the next generation”
Ray DalioOct 11, 2017▶ 1:08:56#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
AssertionNot checkable as stated
Bridgewater anticipated the 2008 financial crisis by studying the 1930s
“The only reason we were able to anticipate it and benefit from it is because it, we felt that it was necessary to understand what had happened in the thirties and what happened before, because the same things happen over and over again.”
Ray DalioOct 11, 2017▶ 16:07#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
AssertionNot checkable as stated
Dalio: Major Debt Crises Occur Roughly Once Every 75 Years
“Some things happen once every 75 years, particularly debt crises and those kinds of things.”
Ray DalioOct 11, 2017▶ 16:30#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
Insight
Dalio: Best decisions come from consulting three believable experts who disagree
“Go to three highly believable people who are willing to disagree with each other. And hear that disagreement, and interact, and bring out that disagreement, and see where there's agreement, so that you get to the other side, so when you either have agreement, …”
Ray DalioOct 11, 2017▶ 24:41#23 Ray Dalio: Life Lessons from a Self-Made Billionaire
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 200 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.